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2318 Franzen Ave 4 Unit Apartment Building $1,850,000 ($462,500/Unit) 3.99% Cap Rate Santa Ana, CA 92705
EXECUTIVE SUMMARY
Great opportunity to own a well-maintained 4-plex. The property consists of 1 3-bedroom 2 bath unit, 2 2-bedroom 2 bath units and a spacious 1-bedroom 1 bath unit. The 3-bedroom unit was just vacated, and the seller used the opportunity to fully refresh the space with a new kitchen, updated bathrooms, mirrored wardrobe closets, a new sliding door, and new flooring throughout thus positioning a new owner to maximize the unit’s rental potential. Other recent improvements include new dual pane vinyl windows throughout and the recently painted exterior. PLEASE DO NOT DISTURB TENANTS. UNITS TO BE TOURED WITH ACCEPTED OFFER.
PROPERTY FACTS
| Price | $1,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $462,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 3.99% | Building Size | 4,181 SF |
| Gross Rent Multiplier | 16.35 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1969 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,850,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 3.99% |
| Gross Rent Multiplier | 16.35 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,181 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.67/1,000 SF |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Kitchen
- Oven
- Range
- Tub/Shower
- Patio
SITE AMENITIES
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $3,450 | - |
| 2+2 | 1 | $2,066 | - |
| 2+2 | 1 | $1,994 | - |
| 1+1 | 1 | $1,754 | - |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 396-131-39 | Improvements Assessment | $177,165 |
| Land Assessment | $1,547,298 | Total Assessment | $1,724,463 |
PROPERTY TAXES
Parcel Number
396-131-39
Land Assessment
$1,547,298
Improvements Assessment
$177,165
Total Assessment
$1,724,463
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2318 Franzen Ave
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